Commercial Property Loan Nagpur
Shriram Bank offers lucrative Commercial Property Loan schemes in Nagpur starting from Rs. 2.00 lakh to Rs. 50.00 lakh for acquiring a commercial asset or property.
For acquiring asset / property
– Salaried employees with a minimum net salary of Rs. 10000 pm (Income of spouse may be added)
– Professionals, self – employed and others who are income tax assessee having a net annual taxable income of Rs. 150000/- for at least 3 years continuously.
– Firms / companies having a net annual taxable income of Rs. 1.50 Lakhs per annum and in operation for last 3 years making cash profit for last 3 years.
Minimum – Rs.2 lakhs Maximum – Rs. 50 Lakhs
– Term Loan – Maximum 7 years
– Cash Credit – with reducing limit (in 84 monthly installment) subject to renewal every year.
The proposal shall be rated as per the credit rating model followed by the Bank and a good rating can get you a better interest rate.
1% of the loan amount.
2.5% of the loan amount.
Registered Mortgage of Residential, commercial or industrial property
1. a) I.T.Returns for last three years, salary slip for last 3 months.
b) For salaried employees income proof such as Form No.16 along with salary certificate from employer
c) Original Title Deeds of the property offered for mortgage.
d) Other documents as per Housing Loan Scheme
2. Guarantor:
Two guarantors, in the case of firms, companies, personal guarantee of partners, directors to be obtained.
3. One guarantor – ROI – 13% to 15%
